The U.S. Treasury is looking to structure a three-phased approach to the G7 sanctions and price caps on Russian oil to keep Russian crude and products flowing—but at lower prices.

Japan’s government is amending laws that will allow state firm Japan Oil, Gas and Metals National Corporation (JOGMEC) to buy liquefied natural gas this winter if private companies cannot afford to do so, Industry and Trade Minister Yasutoshi Nishimura said on Friday.

Russian President Vladimir Putin told his Turkish counterpart Recep Tayyip Erdoğan on Thursday (13 October) that Turkey was the most reliable route to deliver gas to the European Union and proposed to build what he called a supply hub there.

Novatek estimates the shortage of liquefied natural gas (LNG) worldwide at 60-70 mln metric tons in coming years, CEO Leonid Mikhelson said at the Russian Energy Week.

The United States is benefiting handsomely from the anti-Russian sanctions in several spheres simultaneously, Deputy Secretary of Russia’s Security Council Alexander Venediktov told TASS on Thursday.

As war rages in Ukraine, and Europe thirsts for fuel, the liquified natural gas (LNG) industry along the U.S. Gulf Coast is preparing to expand — a distressing development to some nearby neighbors.

Gas production by Novatek in January-September 2022 increased by 2.9% to 60.8 bln cubic meters (bcm).

Berlin and The Hague have tabled joint proposals for EU countries to tackle the energy crisis as a bloc and secure gas supplies for next year’s winter.

Russia will initiate construction of the Power of Siberia 2 and its Soyuz-Vostok segment in Mongolia shortly, President Vladimir Putin said on Wednesday at the Russian Energy Week forum.

Deliveries of Russian gas to Europe in transit through Ukraine on October 12 remained the same at 42.4 mln cubic meters through the Sudzha gas distribution station, follows from the data on the website of the GTS (Gas Transmission System) Operator of Ukraine.